Under Offer

Tamworth, Staffordshire – Multi-let Industrial Investment Opportunity

Units 5-8 Mariner, Lichfield Road Industrial Estate, Tamworth, B79 7XD

Offers in excess of £2,450,000

Property Type:
Commercial
Sub Type:
Industrial
Tenure:
Freehold
Net Initial Yield:
6.00%

Income

£156,000 pa

Description

  • A multi-let Industrial estate located in Tamworth, a core Midlands logistics location within the ‘Golden Triangle’.
  • Situated in Lichfield Road Industrial Estate, one of Tamworths premier   industrial estates close to Junction 10 of the M42 and M6 Toll Motorways.
  • The property comprises two warehouses totalling 28,430 sq ft.
  • Fully let to two tenants producing £156,000 pa, (inclusive of vendor rental top up), equating to a low average rent of £5.48 per sq ft.
  • PCE Ltd have extended their lease for a further 10 years providing a WAULT of 6.96 years to lease expiry and 4.23 years to lease breaks.
  • Reversionary rent on Unit 7&8 with proven on site reversion following lease renewal to PCE Ltd.
  • Freehold.
  • Asset management opportunity to enhance rental tone and potential to convert to trade counter use.
  • We are instructed to seek offers in excess of £2,450,000 subject to contract and exclusive of VAT. This price reflects a Net Initial Yield of 6.00% and a Reversionary Yield 6.4% after allowing for purchaser’s costs of 6.37%.
  • This price equates to a low capital value of £86psf, which is below the replacement cost.